Cyient acquiring consultancy firm WorkForce Delta for $2.7mn

Global engineering, manufacturing, and digital technology solutions company Cyient is acquiring WorkForce Delta, a consulting firm in mobile workforce management for $ 2.7 million.

The acquisition will bolster IntelliCyient's portfolio by expanding its front-end consulting capabilities for digital mobile workforce management solutions, Cyient said.  The company said the proposed acquisition will strengthen Cyient’s digital transformation capabilities and offerings in the Utilities and Telecom industries, the company said.

In a filing, Cyient said that it will be acquiring100% of the shares of WorkForce Delta through a wholly-owned subsidiary of Cyient Australia Pty Limited. The acquisition cost includes an initial payment of $ 2.7 million, without cash and without debt, obtaining dividends based on future performance.

Leveraging Workforce Delta's team of consultants, Krishna Bodanabo, CEO and CEO of Cyient MD, said: "Our goal is to become an industry leader in all sectors. This acquisition is also in line with our strategic path forward to enable successful digital transformation through the IntelliCyient Work for Our Customers framework. "

Founded in 2015, WorkForce Delta has a team of consultants with decades of experience advising and executing workforce management programs for corporations globally. "Cyient's range of solutions and offerings are highly complementary to our mobile workforce management expertise, and we look forward to leveraging the capabilities of both organizations to deliver even more innovation, added value, and business outcomes,” WorkForce Delta co-founder and MD Yuri Margoulis said.

Also Read: Launch of decentralised exchange next month- WazirX

  • Share
Subscribe now